StuffDOT was born out of a moment of inspiration. Not so much in a spiritual way, more of a realization so profound that I had to sit up and take notice. Because of a simple online experience, I realized all at once that the fees generated from MY personal data, MY purchases and MY recommendations online were flowing to everyone but ME. I followed the trail which led me to advertising, affiliate fees, paid promotions, data selling and more. Even something as mindless as clicking on a funny cat video meant that my data was likely just sold to the highest bidder.
With a quick back of the envelope calculation, I realized that social media companies and online websites had made over $1,200 in fees on me just in the last year. So, a few spreadsheets and some research later, I realized my “lifetime value” (marketing speak) to these companies was well over $30,000! Wha? Huh!
Collectively, all of these fees add up to over $50 billion in the US alone ($125 billion worldwide, BTW). I finally understood why these new social media companies have such high valuations. It’s because you and I are generating massive fees for them without any real awareness on our part.
StuffDOT’s vision is that soon people will take charge of (or at least benefit from) their personal data, how they are marketed to and how fees change hands in this new social economy. At StuffDOT we are leveling the play field a bit by adding fairness and transparency into this space.
StuffDOT is a company that shares the fees it makes with the people that create the opportunity for social media and our company to exist. YOU create the content, YOU buy and sell online and YOU share with friends and family. We think YOU also should share in all of this new wealth that is being created as a result. Don’t get me wrong, we are a ‘for profit’ company with the goal of delighting our investors, but we also believe it’s time to share the social media windfall with the people that make it all possible.